XRP has seen an impressive 12.8% increase in the past 24 hours, outperforming major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Reports reveal that Ripple whales were key players in this surge. Crypto expert Ali Martinez recently shared on X that whales purchased at least 120 million XRP during the latest market dip.
Here’s what’s driving XRP’s momentum.
At the start of the year, XRP traded at around $2.0813. Between January 10 and 17, the price climbed by an impressive 44.72%, hitting $3.4040 on January 16. However, a sharp 9.74% correction on January 19 pulled the price back. While the market hasn’t fully recovered, buyers managed to push XRP back to $3.28 by January 22, showcasing strong demand.
According to Ali Martinez, Ripple whales accumulated 120 million XRP during the recent market dip. This demonstrates their confidence in XRP’s future, even after the recent correction. Their activity reflects growing optimism in the market.
Ripple’s recent acquisition of Money Transmitter Licenses in New York and Texas has strengthened its position in the U.S. market. These licenses highlight Ripple’s increasing acceptance and regulatory compliance, which many believe is fueling XRP’s price rise.
Former Ripple executive Sean McBride added to the excitement with a recent X post teasing an announcement at the upcoming XRP Community Day. His hints have stirred enthusiasm, with speculation about an XRP ETF launch this year.
McBride also suggested that the long-standing legal battle between Ripple and the Securities and Exchange Commission (SEC) could soon reach a settlement. Many analysts believe that such a resolution could lead to explosive growth for XRP.
XRP is currently trading at $3.13, and market analyst Dark Defender predicts the next price target could reach $3.62. This aligns with the bullish sentiment currently driving the market and highlights growing investor optimism.
In conclusion, XRP’s impressive performance highlights the confidence of Ripple whales and the crypto community. With regulatory wins, exciting announcements, and market predictions aligning positively, XRP seems poised for significant growth.
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